After Bloomberg reported that HHS officials recommended to the DEA for cannabis to be reclassified as a Schedule III drug, Alliance Global Partners said he views the report as a “notable win” for cannabis. The firm said Schedule III would remove the onerous 280E tax and meaningfully improve the CF for plant-touching companies, adding that it sees the news as encouraging and still points to 2H24 as the optimal time for rescheduling. Publicly traded companies in the space include Aurora Cannabis (ACB), CV Sciences (CVSI), CannTrust Holdings (CNTTF), Canopy Growth (CGC), Cronos Group (CRON), Goodness Growth (GDNSF), Green Thumb Industries (GTBIF), IGC Pharma (IGC), Tilray (TLRY), Trees Corporation (CANN), Trulieve Cannabis (TCNNF) and Zynerba (ZYNE).
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